The Indian Speciality Chemicals Manufacturer’ Association (ISCMA) organised its 61st Annual get-together on 10th October 2015 at Mumbai, attended by the industry captains, invitees, members and media.
Speaking at the event, Mr. Deepak Bhimani, President, ISCMA, said reforms like cut in the base rate of interest has now started and the roll-out of GST would hopefully be effective by April 2016. He stressed the need for the chemical industry to innovate continuously to avoid obsolescence, and leverage the low average monthly wages, which at about $407 are far below $10,210 in a typical pharma industry in the USA. He stressed the relevance of solar energy, enzymes, catalysts and fermentation technology, etc.
Mr. Samir Somaiya, Guest of Honour and Chairman & Managing Director, Godavari Biorefineries Ltd. (GBL), spoke on innovation and sustainability to maximize profits. GBL, which derives feedstock from sugarcane farmers, ensures that all stake-holders, work in sustainable, collaborative partnerships.
The company is involved in making commodity chemicals like sugar, ethanol & ethanol-based chemicals, including ethyl acetate, and renewable power. “Knowledge should be a key differentiator,” he observed, in the transformation of biomass – physically, chemically and biologically. Instead of burning bagasse to generate power, the company is currently involved in a process to physically transform the bio-resource into cellulose, upgrade it, and convert into cellulose derivatives and micro-crystalline cellulose. Recently the company has put up two aldehyde plants, and the products find markets globally in the fragrance & flavor and cosmetic industries.
GBL is also investigating the possibility of making solvents and bio-degradable biopolymers from renewable resources. “These are opportunities because the world is struggling with waste,” Mr. Somaiya noted, adding that it is possible to innovate only if one is tenacious and goes after an idea relentlessly.
He also addressed the importance of the social bottom line – the “earn and give” philosophy of the group’s Founder through the creation of educational and healthcare institutions.
For more information, please visit: www.somaiya.com
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